The webinar on Corruption and Bribery in the financial sector was held on June 19, 2024. This comprehensive session covered key topics including:
• Definitions of corruption and bribery
• Global trends and their impact
• International and national regulatory frameworks
• Best practices for financial institutions
Participants learned about the latest developments in anti-corruption efforts, including the Foreign Extortion Prevention Act (FEPA) and the Kleptocracy Asset Recovery Rewards Act (KARRA). Expert speakers discussed risk assessment strategies, management commitment, internal controls, and due diligence procedures for customers, employees, and third parties.
The webinar provided valuable insights into corruption risks and compliance measures in the financial industry. Attendees gained a deeper understanding of:
• Methods of concealing corruption, such as the use of shell companies and cryptocurrencies
• Global trends in corruption and their economic impact
• International initiatives and regulatory frameworks, including the OECD Anti-Bribery Convention and the UN Convention against Corruption
• US and UK regulations, including the Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act
• Best practices for financial institutions, including risk assessment, management commitment, and internal controls
The session also features case studies, including the Goldman Sachs 1MDB scandal and the Grupo Aval bribery case, to illustrate the real-world implications of corruption in the financial sector.
For those who missed this insightful webinar, the Financial Crime Academy also offers a comprehensive course on corruption and bribery, which covers these topics in greater depth and provides additional resources for compliance professionals and financial executives.
14 окт 2024
